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Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Is it fair to say, therefore, that everything that was available in the earlier part was available to everybody, albeit for a shorter period of time at a later stage?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: And nothing was removed.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: When other bidders cried foul of a process that was prohibitively narrow for them to do due diligence, why was no action taken? Was that a major surprise to the Comptroller and Auditor General at that point?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: It is clear they complained about the timeframe being prohibitively short. It seems from the report that nothing was done about that. Was that a surprise to the Comptroller and Auditor General?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Did the Comptroller and Auditor General seek any external legal advice in preparing this report?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: On what issues?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Given the narrowness that was highlighted by certain bidders, and the fact that is admitted in the Comptroller and Auditor General's report, does he believe NAMA is exposed under the 2010 EU remedies regulations or the Irish guidelines on public procurement?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: In any year-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: With regard to any of his dealings with the Department of Finance, in a response to a parliamentary question today on this issue from the Minister, Deputy Noonan, he states that the Comptroller and Auditor General's office engaged with him in the review as early as November 2015. Is that the case?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Was there any suggestion in deliberations between the Comptroller and Auditor General and the Department of Finance that it wished Mr. McCarthy to be cognisant in his language of what I just mentioned, the potential for challenge under the 2010 EU remedies regulations or the Irish guidelines on public procurement?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: My last point was touched on by Deputy McDonald when she referred to the graceful change in a couple of weeks of the legal advisers of PIMCO over to Cerberus. Has Mr. McCarthy seen any evidence to suggest that a payment took place between Cerberus and PIMCO in light of that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Did Mr. McCarthy ask NAMA if it had sought sight of letters of release which would be common between solicitors acting in such a manner?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Was it wise not to do that? The witness said he had assurances that everything was above board, but he felt NAMA could go further. In saying that it could go further, does the witness think it should have sought those letters of release?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: I thank the witnesses for taking the time to be with us. I must ask this question first: why would NAMA make contact with selective members of the Committee of Public Accounts the week in advance of publication of the report?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: I am getting to that.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Yes, I understand.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: As I have even less time than Deputy Mary Lou McDonald, I need Mr. Daly to be brief.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: It was perfectly reasonable for NAMA to make contact with the secretariat, the clerk, the Chairman and even the Vice Chairman if the Chairman could not be contacted, but I am interested in the contact with other members whom I know were contacted. I was not one of them. It is also clear that Senator David Cullinane was not one of them either. What criteria were adopted by the head of...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: Will Mr. Daly confirm that, as far as he is aware, nobody other the Chairman and the Vice Chairman was contacted by his staff?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Marc MacSharry: I was finance spokesperson in the Seanad when the NAMA legislation was going through and in those eight short years I was not contacted once by NAMA's head of public affairs. Between now and our next meeting, in the interests of clarity, perhaps Mr. Daly might be in a position to tell us why there is contact with members of the Committee of Public Accounts other than the Chairman and the...

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